AfricInvest and Partech back $22m round for Kredete
Fintech helps African immigrants build credit while facilitating cross-border payments.
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Kredete, a fintech that helps African immigrants build credit and access financial services, has raised $22 million in Series A funding. The round was led by AfricInvest, through its Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle, with Partech and Polymorphic Capital also participating.
This latest round, which brings Kredete’s total funding to $24.75 million, will finance the company’s expansion into Canada, the United Kingdom, and key European markets.
Kredete was founded in 2023 by serial entrepreneur Adeola Adedewe. Since then, the firm has been on a mission to help African immigrants build credit and access better financial services through stable coin payments and responsible remittance infrastructure.
The company combines international money transfers with a proprietary credit-building engine, enabling users to send money to over 30 African countries while improving their credit history in the US and beyond. Kredete has also built API-based infrastructure to help businesses make secure and affordable cross-border payments into Africa, leveraging modern payment rails and stablecoin technology.
“Our vision is simple: if you support your family financially, that should count toward your creditworthiness,” says Adedewe, founder and CEO of Kredete. “We’re building a system that rewards financial responsibility across borders. This raise is about scaling that infrastructure globally – and making sure that the millions of Africans abroad are finally seen, scored, and served.”
“Kredete has been focusing on serving the African diaspora while addressing the key bottlenecks faced by payment operators when they move money in and out of Africa,” commented Khaled Ben Jilani, senior partner at AfricInvest. “It is one of those extremely rare start-ups that has managed to solve several problems at once – both for its African consumer clients, as well as for the large payments companies operating in Africa.”
“Adeola and his team are driving transformative innovation in remittance and cross-border payment infrastructure,” said Lewam Kefela, principal at Partech. “We're excited about how their work is enabling better financial services for the African diaspora and unlocking broader opportunities across the ecosystem. We are thrilled to partner with Kredete on this journey.”
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